Alex Svetlakou Facilitates $8M Sale Of Development Site In Sheepshead Bay, Brooklyn
SOLD
$8,000,000
New York
See Similar DealsDevelopment Site10,000 SF
Sold 05/07/2024
SOLD
Alex Svetlakou Facilitates $8M Sale Of Development Site In Sheepshead Bay, Brooklyn
1667 Sheepshead Bay Road
See Similar DealsDevelopment Site10,000 SF
Sold 05/07/2024
Summary
NEW YORK
Asset Type:Development Site
Price Per Square Foot:$800
Total Square Footage:10,000 SF
Transaction Type:Sale
The development site located at 1667 Sheepshead Bay Road in Sheepshead Bay, Brooklyn, was recently sold for $8,000,000. Spanning 10,000 square feet, the property was sold at a price per square foot of $800.
Summary of transaction details:
- Property Type: Development Site
- Transaction Amount: $8,000,000
- Address: 1667 Sheepshead Bay Road
- Market: Sheepshead Bay, Brooklyn
- Square Footage: 10,000
- Broker: Alex Svetlakou - Ripco
Alex Svetlakou from Ripco facilitated the transaction as the broker representing the parties involved in the sale of the development site.
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Deal Type
30 years
10 years
Operating Income
Operating Expenses (Annual)
Net Operating Income (NOI)
$426,666.67
Debt Service Coverage Ratio (DSCR)
0.94x
Cap Rate
5.33%
Cash Flow (Annual)-$28,422.30
Cash-on-Cash Return-1.27%
Monthly Debt Service$37,924.08
Annual Debt Service$455,088.98
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